Sarasota County Comprehensive Annual Financial Report 2019

SARASOTA COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED SEPTEMBER 30, 2019 TABLE OF CONTENTS Revenue Capacity: Assessed Value and Estimated Actual Value of Taxable Property.............................................................................. 267 Direct and Overlapping Property Tax Rates................................................................................................................. 268 Principal Property Taxpayers ....................................................................................................................................... 270 Property Tax Levies and Collections ............................................................................................................................ 271 Property Value, Construction, and Bank Deposits ....................................................................................................... 272 Special Assessment Billings and Collections ............................................................................................................... 273 Coverage of Guaranteed Entitlement for All Counties by Revenue Sharing Trust Fund Receipts for All Counties ......................................................................................................................................... 274 Coverage of Guaranteed Entitlement for Sarasota County by Revenue Sharing Trust Fund Receipts for Sarasota County.................................................................................................................................. 275 State of Florida and Sarasota County Historical Sales Tax Collections....................................................................... 276 State of Florida and Sarasota County Historical Local Government Half-Cent Sales Tax .......................................... 277 Sarasota County and Municipalities Percentage Distributions of Statewide Half-Cent Sales Tax Revenues ............. 279 Debt Capacity: Ratios of Outstanding Debt by Type............................................................................................................................. 280 Ratios of General Bonded Debt Outstanding Debt ...................................................................................................... 28 2 Direct and Overlapping Governmental Activities Debt ................................................................................................. 283 Legal Debt Margin Information ..................................................................................................................................... 285 Pledged-Revenue Coverage ........................................................................................................................................ 286 Coverage of Maximum Annual Debt Service Requirement by Local Government Half-Cent Sales Tax Revenues ............................................................................................................................... 293 Demographic and Economic Information: Demographic and Economic Statistics ......................................................................................................................... 294 Principal Employers ...................................................................................................................................................... 295 Top Ten Manufacturers ................................................................................................................................................ 296 Miscellaneous Statistics ............................................................................................................................................... 297 Operating Information: Full-Time Equivalent County Government Employees by Function/Program.............................................................. 299 Operating Indicators by Function/Program................................................................................................................... 300 Capital Assets Statistics by Function/Program............................................................................................................. 302 OTHER SUPPLEMENTAL INFORMATION: Summary Schedule of Revenues, Expenditures and Changes in Fund Balances – General Fund................................... 306 Assessed Value of Taxable Property.................................................................................................................................. 307 Pro Forma Debt Service Coverage – Limited Ad Valorem Tax Bonds, Series 2005, Series 2010 and Series 2014......... 308 Commercial Paper - Specific Borrowings ........................................................................................................................... 309 Communication Services Tax Revenue Bonds Series 2010, and Communication Services Tax Revenue Refunding Note, Series 2014 and 2015 Continuing Disclosure..................................................................................................... 310 Infrastructure Sales Surtax Revenue Bonds, Series 2014, 2015 and 2018 Continuing Disclosure ................................... 311 Pro Forma Debt Service Coverage - Second Guaranteed Entitlement Revenue Bonds Series 2013 ............................... 313 Utility Bond Issue Continuing Disclosure ............................................................................................................................ 314 General Obligation Bonds – Description............................................................................................................................. 327 General Government – Revenue Bonds – Description: Revenue Bond Issues .................................................................................................................................................. 328 6